* Malaysian shares drop for fourth straight session
* Singapore shares hit lowest in over two months
By Nicole Pinto
June 13 (Reuters) - Most Southeast Asian stock markets
declined on Wednesday, in line with broader Asia ahead of the
U.S. Federal Reserve's policy decision which could give cues on
future rate hikes.
The Fed is widely expected to raise interest rates for the
second time this year after a move in March, but the bigger
question for investors is the outlook for future monetary
tightening amid an ongoing economic expansion.
"Trading volumes are a bit lower than average. A lot of
investors are staying on the sidelines ahead of the Fed's
decision today and comments from the ECB (European Central Bank)
tomorrow," said Joel Ng, an analyst at KGI securities.
"I don't think the rate decision will be negative for the
markets, it's just that markets are a bit slower in June."
The ECB will debate whether to end a 2.55 trillion euro bond
purchase scheme this year as inflation is on the rise and growth
has lasted five years.
Philippine shares fell as much as 2.5 percent, their
sharpest in nearly six weeks, on resumption of trade after the
Independence Day holiday on Tuesday.
SM Investments Corp declined as much as 3.3 percent,
JG Summit Holdings dropped 4.9 percent and BDO Unibank
Inc fell 4 percent.
Singapore shares fell nearly 1 percent to their
lowest since April 6, dragged by the city-state's big banks.
United Overseas Bank, DBS Group Holdings and
Oversea-Chinese Banking Corp Ltd all shed over 1.5
percent.
Malaysian shares extended their fall into a fourth
session with Public Bank, the country's largest lender
by market capitalisation, declining nearly 2 percent.
Thai shares fell after two straight sessions of gain,
while Vietnam was little changed following a sharp drop
in the previous session.
Indonesian financial markets are closed until June 19 for
Eid Al-Fitr.
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SOUTHEAST ASIAN STOCK MARKETS: Change as at 0414 GMT
Change on the day
Current Previous Close Pct Move
Singapore 3400.76 3430.69 -0.87
Bangkok 1722.7 1727.29 -0.27
Manila 7582.56 7771.3 -2.43
Kuala Lumpur 1759.17 1764.16 -0.28
Ho Chi Minh 1021.76 1020.76 0.10
Change on year
Market Current End 2017 Pct Move
Singapore 3400.76 3402.92 -0.06
Bangkok 1722.7 1753.71 -1.77
Manila 7582.56 8558.42 -11.40
Kuala Lumpur 1759.17 1796.81 -2.09
Ho Chi Minh 1021.76 984.24 3.81
(Reporting by Nicole Pinto; Editing by Subhranshu Sahu)